Posted October 8, 2024
Week ending Oct. 4, 2024
Fed cattle trade was steady to slightly higher last week. Northern trade saw values remain unchanged for the week, closing at $187. Southern trade was $1 higher, closing at $186. Across the front three months of trade, live cattle futures closed $2.40 to $3.25 higher.
Stocker and feeder cattle trade followed the same trend as fed cattle. The national average price for stocker steers closed the week $1.60 higher, at $286.91. Trade varied from $2 lower to $4 higher. The national average price for feeder steers closed $1.60 higher at 247.34. Trade was moderately variable from $1 lower to $2 higher. Feeder cattle futures closed the week from $255 to $4.77 higher across the front three months of trade.
Boxed beef cutouts were up for the week. The Choice cutout closed at $302.58, up $5.89 for the week. The Select cutout closed at $287.61, up $5.53 for the week. The Choice/Select spread settled at $14.97 for the week, $0.36 wider.
The cutter cow cutout closed $1.61 lower at $267.69. Slaughter cow trade varied from $2 lower to $2 higher for the week.
Total red meat production for last week was estimated at 1,077.4 million lb. This was 1% higher than the week prior and 1.2% higher than a year ago. Hot carcass weights averaged another record high of 948 lb., compared to 945 lb. last week, and 918 lb. last year. Cumulative red meat production for year to date is estimated at 0.4% higher than last year.
